Chapter 677: 【The King of Real Estate】
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Chapter 677 【The King of Real Estate】
Changjiang Building, group meeting room;
Wu Guangyao and a group of executives of the real estate department are having a meeting.
Wu Guangyao first said: "Tianfan, you are good at restructuring the company structure, and you and Xianshuo will take the lead in restructuring the company structure of Land Company!"
Yuan Tianfan said quickly: “Yes, boss! However, the financial situation of Land Company is not optimistic. Either financing or selling the company’s assets can turn the situation around.”
Wu Guangyao nodded, agreeing with this view;
In fact, financing is not realistic. At this time, the shares held by the Wu family have exceeded the full acquisition line;
If you do not initiate a comprehensive acquisition, you will need to reduce your holdings to below 35% within half a year;
But diluting the shares will give others a chance to take advantage. The only way is to transfer the shares to the family office or some other women.
For example, Cheung Kong Holdings holds only 34.5% of Hutchison Whampoa, the family office also holds 5% of the shares, and Li Cui's line also holds 5% of the shares.
As for raising money from outsiders, Wu Guangyao would not even consider it.
Wu Guangyao said to Wu Xianshuo: "Do you have any opinion?"
Wu Xianshuo thought for a while and said: “According to the current financial situation of Hongkong Land, at least 5 billion Hong Kong dollars are needed to worry about it. It is better to sell several buildings in Central to Kowloon Real Estate to ease the financial situation."
Sure enough, he is a unicorn, not only smart, but also generous enough;
Why is Wu Xianshuo generous?
It turns out that the assets of Jiulong Real Estate are trust assets belonging to Lin Yueru’s line, which will benefit Wu Xianshuo’s brothers and everyone’s descendants;
In the future, the land company will definitely be Wu Xianshuo’s company, so the high-quality properties of LANDMARK Central belong to him and his children and descendants.
Wu Guangyao said: "Too many high-quality properties are sold, and the signboard of Land Land may be greatly discounted; so let’s take out three buildings in the core area of Central and sell them to Kowloon Real Estate, and leave the rest with Land Company. Right! If the funds for restructuring are not enough, let's use the bank's portfolio loan!"
Wu Guangyao has decided not to let Land Company become an old real estate company that exists only in name, so he decided to reserve three buildings in the core area of Central for Land;
In addition to the three buildings in the core area of Central (not even the three sold to Kowloon Real Estate), the land has 7 first-class commercial buildings in Central, No. 9 Avenue, Duke Building, Royal Building in Causeway Bay, and Harcourt Building in Wan Chai. ；
There is also the Diligend Pavilion in the Mid-Levels. Two phases have been completed, one with 33 floors, one with 34 floors, and a piece of land that has not yet been developed. In the previous life, the last phase was a 66-story building with the top floor as high as the altitude. At 327 meters, it was the world's tallest residential building when it was completed, replacing Chicago's Lake Spire. Phase III maintained this record for 8 years until the Trump World Center was completed in 2001;
There is also the Xingang Center, which is a property behind the Wharf. It is a complex of three buildings, with shopping malls and office buildings. This is also a commercial building group that was kept nearby after Jardine lost the Wharf. Unexpectedly, it was acquired by Wu Guangyao again now;
In addition, there are more than 50 real estate projects under development. The relatively large ones include the Baibishan villa group project (total investment of about 4 billion Hong Kong dollars), the sixth large-scale housing project in Tin Shuiwei (half equity), etc.;
Finally, there is a large amount of reserved land;
The above are the real estate assets of Hongkong Land Company. They are very large. Once the Sino-British negotiations are over, the price of the whole land can reach 30 billion Hong Kong dollars immediately (the market value is generally much lower than the actual value).
The structure of the land company is still very complicated. According to Wu Guangyao's vision, the cultural hotel needs to be separated and listed separately, and the Wellcome Supermarket needs to be sold to Baiyou Group;
The land company and the telecommunications company are currently mainly pager services.
Although Wu Guangyao had some ideas, he didn't say them. The purpose was to test the abilities of Wu Xianshuo and Yuan Tianfan.
After the Land Company was set up, Wu Guangyao said to Ma Shimin: “I have four large real estate companies under my control, Cheung Kong Holdings, Wharf, Hutchison Whampoa, and Land Group. Now it seems that the remaining three have considerable rental properties. Only Hutchison Whampoa collects fewer rental properties."
In fact, there are more than four large real estate companies under Wu Guangyao, because the Jiahong Real Estate under the Hongkong Electric can easily rank in the top 12 of Hong Kong real estate; after all, there is a large amount of land in the old Ap Lei Chau power plant, enough to develop one. Super large housing estate project; so it should be said to be the five largest real estate companies, but after all, Jiahong Real Estate is under the Hong Kong Electric Group. Wu Guangyao does not like to list him as one of his real estate departments, only regarded as an important subordinate of the Hong Kong Electric Group. It's just a company.
Ma Shimin nodded and said, “Indeed! Although Hutchison Whampoa is a comprehensive group company, the proportion of real estate is still relatively large, and some rental properties need to be developed! What does the boss mean to develop the Whampoa dock?”
Wu Guangyao said with a smile: "At this time, it is right to bargain with the Hong Kong government. The Hong Kong government wants to turn the real estate industry into a boom, and it will inevitably need to start large-scale projects to stimulate the market; and the Hong Kong government now owes me favors, and they should pay it back."
Ma Shimin said: "How does the boss plan to plan this land?"
Wu Guangyao had a belly case for a long time, and he just told a group of executives today and said: "The location of the Huangpu Dockyard is not as good as the Taikoo Shing; but it also has two advantages: not far from the Kowloon business district (tourist area), and close to it. Cheung Kong Hung Hom Industrial Park (the industrial building group built on the site of the Qingzhou Cement Crane Garden General Plant, with a total building area of 5 million square feet.)
On this piece of land, we can build 10,000 residential units that can accommodate 40,000 people; at the same time, we can also build a 2 million square foot commercial center (hotel, office building, shopping mall complex) on the coastal area.
Specific plans, we will study them slowly later! "
Previous life Li Jiacheng developed the famous Four Enclosed Village projects in the 1980s and 1990s, with a total profit of 20 billion Hong Kong dollars. These funds are the fundamental reason why the Lee Consortium has been able to become internationalized.
The first and most famous of the four large-walled village projects is the Huangpu Garden project.
The former site of Whampoa Garden was the dock of the Hutchison Whampoa Group. After entering the 1970s, Hutchison and Swire cooperated to merge the dock and move it to Tsing Yi Island, leaving a piece of 2 million square feet (200,000 square meters) in area. space.
At that time, Hutchison’s Taipan Qi Dezun intended to develop this land and build a top-level community similar to Tai Koo Shing, but ran into a fatal problem. The land at the dock and wharf was of an industrial nature. A huge amount of "land compensation".
After the land compensation fee is paid, there is basically no profit for redevelopment; this
is the strategy of the Hong Kong government. Otherwise, all enterprises purchase industrial land for land conversion, so which real estate company is still willing to participate in land auctions?
The land subsidy trapped Qi Dezun and the subsequent Wei Li. When Li Jiacheng took over Hutchison Whampoa, the land price at that time was almost at its peak, and the land compensation fee required 2.8 billion Hong Kong dollars. Li Jiacheng naturally refused to accept it.
In 1984, although the Sino-British negotiations improved, the real estate market has been sluggish. In order to stimulate the real estate industry in Hong Kong, the Hong Kong government agreed to Li Ka-shing’s terms, adding HK$390 million in land compensation plus HK$200 million. The road fee has modified the land use nature of this plot of land.
At the beginning of 1985, the Sino-British negotiations were over, the future of Xiangjiang was determined, and housing prices began to rise steadily. Li Jia established an encircled village project to build the Whampoa Garden.
In the previous life, Whampoa Garden included a total of 7.6 million square feet (760,000 square meters) of residences and 1.9 million square feet (190,000 square meters) of shopping malls. The entire project began in 1985 and ended in 1989. During the sale process, Xiangjiang Real Estate has just recovered. , Housing prices have risen sharply, and the premium for the entire project is very high.
I own the land in Whampoa Garden and only paid HK$590 million for land modification and road fees. The construction cost of the entire project was HK$4 billion. In the following four years, the total income was as high as HK$9.5 billion. It was only a residential project. , It made 5 billion easily;
Moreover, the 1.7 million square foot commercial center has long brought considerable benefits to Hutchison Whampoa.
This profit was one of the most profitable business cases in Xiangjiang at that time.
Ma Shimin said happily: “After this project, Hutchison Whampoa also has a golden sign on the real estate, which can be comparable to Swire Pacific.”
Wu Guangyao said with a smile: “Swire Pacific has already made a lot of profits, and if nothing else, they may privatize Swire Properties recently.”
Ma Shimin’s eyes lit up and immediately said: “It just happens that Hutchison Whampoa’s development of the Whampoa Dock is still short of funds. It is better to take the opportunity to acquire some Swire Pacific shares. By then, the privatization will definitely be profitable.”
Wu Guangyao was taken aback, but he didn't think so much. First, he didn't look down on the tens of millions of Hong Kong dollars. Second, Swire Pacific had cooperated with him in the third phase of the Taikoo Shing project, and he didn't want to put them together.
But since Ma Shimin has proposed it, you can also try to invest a little bit;
"Well, but don’t invest too much, just make a little profit! Swire Properties owns a high stake in Swire Properties, and it is quite easy to harm the interests of minority shareholders to achieve the purpose of privatization."
Ma Shimin smiled and said, "I think so too, but I don’t think tens of millions are too few!"
Wu Guangyao said again: "There is another project, you go to run, old horse!"
The project that can be said by the boss, it must be a big project, Ma Shimin is naturally happy, after all, he is rewarded with 1% of the profit every year.
"Boss, please speak!"
Wu Guangyao said: “There is an oil depot in Cha Kwo Ling, owned by an oil company, and a large-scale housing estate project can be developed on that piece of land!”
People in the conference room started to think that the oil depot is owned by others. If you buy it, the oil company’s wealth and wealth may not necessarily agree;
After all, finding another oil depot is not only troublesome, but also requires the Hong Kong government to apply. The procedure is quite complicated.
Only Ma Shimin reacted quickly: "Exchange with Hutchison Whampoa’s Tsing Yi Oil Depot?"
Hutchison Whampoa has an oil depot, and it was the first company to set up an oil depot on Tsing Yi Island;
Not only that, Hutchison Whampoa also has a dock (shipyard, repair shop) on Tsing Yi Island, which is in cooperation with Swire Pacific (55 points).
Wu Guangyao nodded and said, “Hutchison Whampoa’s oil depot is not a core business itself and can be withdrawn.”
Ma Shimin said: "Well! Let me talk about this, and I promise that there is no problem."
In this way, Hutchison Whampoa has two large-scale housing projects. Of course, Wu Guangyao will control the construction period to obtain greater profits.
(End of this chapter)
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Chapter 677 【The King of Real Estate】
Changjiang Building, group meeting room;
Wu Guangyao and a group of executives of the real estate department are having a meeting.
Wu Guangyao first said: "Tianfan, you are good at restructuring the company structure, and you and Xianshuo will take the lead in restructuring the company structure of Land Company!"
Yuan Tianfan said quickly: “Yes, boss! However, the financial situation of Land Company is not optimistic. Either financing or selling the company’s assets can turn the situation around.”
Wu Guangyao nodded, agreeing with this view;
In fact, financing is not realistic. At this time, the shares held by the Wu family have exceeded the full acquisition line;
If you do not initiate a comprehensive acquisition, you will need to reduce your holdings to below 35% within half a year;
But diluting the shares will give others a chance to take advantage. The only way is to transfer the shares to the family office or some other women.
For example, Cheung Kong Holdings holds only 34.5% of Hutchison Whampoa, the family office also holds 5% of the shares, and Li Cui's line also holds 5% of the shares.
As for raising money from outsiders, Wu Guangyao would not even consider it.
Wu Guangyao said to Wu Xianshuo: "Do you have any opinion?"
Wu Xianshuo thought for a while and said: “According to the current financial situation of Hongkong Land, at least 5 billion Hong Kong dollars are needed to worry about it. It is better to sell several buildings in Central to Kowloon Real Estate to ease the financial situation."
Sure enough, he is a unicorn, not only smart, but also generous enough;
Why is Wu Xianshuo generous?
It turns out that the assets of Jiulong Real Estate are trust assets belonging to Lin Yueru’s line, which will benefit Wu Xianshuo’s brothers and everyone’s descendants;
In the future, the land company will definitely be Wu Xianshuo’s company, so the high-quality properties of LANDMARK Central belong to him and his children and descendants.
Wu Guangyao said: "Too many high-quality properties are sold, and the signboard of Land Land may be greatly discounted; so let’s take out three buildings in the core area of Central and sell them to Kowloon Real Estate, and leave the rest with Land Company. Right! If the funds for restructuring are not enough, let's use the bank's portfolio loan!"
Wu Guangyao has decided not to let Land Company become an old real estate company that exists only in name, so he decided to reserve three buildings in the core area of Central for Land;
In addition to the three buildings in the core area of Central (not even the three sold to Kowloon Real Estate), the land has 7 first-class commercial buildings in Central, No. 9 Avenue, Duke Building, Royal Building in Causeway Bay, and Harcourt Building in Wan Chai. ；
There is also the Diligend Pavilion in the Mid-Levels. Two phases have been completed, one with 33 floors, one with 34 floors, and a piece of land that has not yet been developed. In the previous life, the last phase was a 66-story building with the top floor as high as the altitude. At 327 meters, it was the world's tallest residential building when it was completed, replacing Chicago's Lake Spire. Phase III maintained this record for 8 years until the Trump World Center was completed in 2001;
There is also the Xingang Center, which is a property behind the Wharf. It is a complex of three buildings, with shopping malls and office buildings. This is also a commercial building group that was kept nearby after Jardine lost the Wharf. Unexpectedly, it was acquired by Wu Guangyao again now;
In addition, there are more than 50 real estate projects under development. The relatively large ones include the Baibishan villa group project (total investment of about 4 billion Hong Kong dollars), the sixth large-scale housing project in Tin Shuiwei (half equity), etc.;
Finally, there is a large amount of reserved land;
The above are the real estate assets of Hongkong Land Company. They are very large. Once the Sino-British negotiations are over, the price of the whole land can reach 30 billion Hong Kong dollars immediately (the market value is generally much lower than the actual value).
The structure of the land company is still very complicated. According to Wu Guangyao's vision, the cultural hotel needs to be separated and listed separately, and the Wellcome Supermarket needs to be sold to Baiyou Group;
The land company and the telecommunications company are currently mainly pager services.
Although Wu Guangyao had some ideas, he didn't say them. The purpose was to test the abilities of Wu Xianshuo and Yuan Tianfan.
After the Land Company was set up, Wu Guangyao said to Ma Shimin: “I have four large real estate companies under my control, Cheung Kong Holdings, Wharf, Hutchison Whampoa, and Land Group. Now it seems that the remaining three have considerable rental properties. Only Hutchison Whampoa collects fewer rental properties."
In fact, there are more than four large real estate companies under Wu Guangyao, because the Jiahong Real Estate under the Hongkong Electric can easily rank in the top 12 of Hong Kong real estate; after all, there is a large amount of land in the old Ap Lei Chau power plant, enough to develop one. Super large housing estate project; so it should be said to be the five largest real estate companies, but after all, Jiahong Real Estate is under the Hong Kong Electric Group. Wu Guangyao does not like to list him as one of his real estate departments, only regarded as an important subordinate of the Hong Kong Electric Group. It's just a company.
Ma Shimin nodded and said, “Indeed! Although Hutchison Whampoa is a comprehensive group company, the proportion of real estate is still relatively large, and some rental properties need to be developed! What does the boss mean to develop the Whampoa dock?”
Wu Guangyao said with a smile: "At this time, it is right to bargain with the Hong Kong government. The Hong Kong government wants to turn the real estate industry into a boom, and it will inevitably need to start large-scale projects to stimulate the market; and the Hong Kong government now owes me favors, and they should pay it back."
Ma Shimin said: "How does the boss plan to plan this land?"
Wu Guangyao had a belly case for a long time, and he just told a group of executives today and said: "The location of the Huangpu Dockyard is not as good as the Taikoo Shing; but it also has two advantages: not far from the Kowloon business district (tourist area), and close to it. Cheung Kong Hung Hom Industrial Park (the industrial building group built on the site of the Qingzhou Cement Crane Garden General Plant, with a total building area of 5 million square feet.)
On this piece of land, we can build 10,000 residential units that can accommodate 40,000 people; at the same time, we can also build a 2 million square foot commercial center (hotel, office building, shopping mall complex) on the coastal area.
Specific plans, we will study them slowly later! "
Previous life Li Jiacheng developed the famous Four Enclosed Village projects in the 1980s and 1990s, with a total profit of 20 billion Hong Kong dollars. These funds are the fundamental reason why the Lee Consortium has been able to become internationalized.
The first and most famous of the four large-walled village projects is the Huangpu Garden project.
The former site of Whampoa Garden was the dock of the Hutchison Whampoa Group. After entering the 1970s, Hutchison and Swire cooperated to merge the dock and move it to Tsing Yi Island, leaving a piece of 2 million square feet (200,000 square meters) in area. space.
At that time, Hutchison’s Taipan Qi Dezun intended to develop this land and build a top-level community similar to Tai Koo Shing, but ran into a fatal problem. The land at the dock and wharf was of an industrial nature. A huge amount of "land compensation".
After the land compensation fee is paid, there is basically no profit for redevelopment; this
is the strategy of the Hong Kong government. Otherwise, all enterprises purchase industrial land for land conversion, so which real estate company is still willing to participate in land auctions?
The land subsidy trapped Qi Dezun and the subsequent Wei Li. When Li Jiacheng took over Hutchison Whampoa, the land price at that time was almost at its peak, and the land compensation fee required 2.8 billion Hong Kong dollars. Li Jiacheng naturally refused to accept it.
In 1984, although the Sino-British negotiations improved, the real estate market has been sluggish. In order to stimulate the real estate industry in Hong Kong, the Hong Kong government agreed to Li Ka-shing’s terms, adding HK$390 million in land compensation plus HK$200 million. The road fee has modified the land use nature of this plot of land.
At the beginning of 1985, the Sino-British negotiations were over, the future of Xiangjiang was determined, and housing prices began to rise steadily. Li Jia established an encircled village project to build the Whampoa Garden.
In the previous life, Whampoa Garden included a total of 7.6 million square feet (760,000 square meters) of residences and 1.9 million square feet (190,000 square meters) of shopping malls. The entire project began in 1985 and ended in 1989. During the sale process, Xiangjiang Real Estate has just recovered. , Housing prices have risen sharply, and the premium for the entire project is very high.
I own the land in Whampoa Garden and only paid HK$590 million for land modification and road fees. The construction cost of the entire project was HK$4 billion. In the following four years, the total income was as high as HK$9.5 billion. It was only a residential project. , It made 5 billion easily;
Moreover, the 1.7 million square foot commercial center has long brought considerable benefits to Hutchison Whampoa.
This profit was one of the most profitable business cases in Xiangjiang at that time.
Ma Shimin said happily: “After this project, Hutchison Whampoa also has a golden sign on the real estate, which can be comparable to Swire Pacific.”
Wu Guangyao said with a smile: “Swire Pacific has already made a lot of profits, and if nothing else, they may privatize Swire Properties recently.”
Ma Shimin’s eyes lit up and immediately said: “It just happens that Hutchison Whampoa’s development of the Whampoa Dock is still short of funds. It is better to take the opportunity to acquire some Swire Pacific shares. By then, the privatization will definitely be profitable.”
Wu Guangyao was taken aback, but he didn't think so much. First, he didn't look down on the tens of millions of Hong Kong dollars. Second, Swire Pacific had cooperated with him in the third phase of the Taikoo Shing project, and he didn't want to put them together.
But since Ma Shimin has proposed it, you can also try to invest a little bit;
"Well, but don’t invest too much, just make a little profit! Swire Properties owns a high stake in Swire Properties, and it is quite easy to harm the interests of minority shareholders to achieve the purpose of privatization."
Ma Shimin smiled and said, "I think so too, but I don’t think tens of millions are too few!"
Wu Guangyao said again: "There is another project, you go to run, old horse!"
The project that can be said by the boss, it must be a big project, Ma Shimin is naturally happy, after all, he is rewarded with 1% of the profit every year.
"Boss, please speak!"
Wu Guangyao said: “There is an oil depot in Cha Kwo Ling, owned by an oil company, and a large-scale housing estate project can be developed on that piece of land!”
People in the conference room started to think that the oil depot is owned by others. If you buy it, the oil company’s wealth and wealth may not necessarily agree;
After all, finding another oil depot is not only troublesome, but also requires the Hong Kong government to apply. The procedure is quite complicated.
Only Ma Shimin reacted quickly: "Exchange with Hutchison Whampoa’s Tsing Yi Oil Depot?"
Hutchison Whampoa has an oil depot, and it was the first company to set up an oil depot on Tsing Yi Island;
Not only that, Hutchison Whampoa also has a dock (shipyard, repair shop) on Tsing Yi Island, which is in cooperation with Swire Pacific (55 points).
Wu Guangyao nodded and said, “Hutchison Whampoa’s oil depot is not a core business itself and can be withdrawn.”
Ma Shimin said: "Well! Let me talk about this, and I promise that there is no problem."
In this way, Hutchison Whampoa has two large-scale housing projects. Of course, Wu Guangyao will control the construction period to obtain greater profits.
(End of this chapter)
Chapter 677 The King of Real EstateChangjiang Building, group meeting room;Wu Guangyao and a group of executives of the real estate department are having a meeting.Wu Guangyao first said: "Tianfan, you are good at restructuring the company structure, and you and Xianshuo will take the lead in restructuring the company structure of Land Company!"Yuan Tianfan said quickly: Yes, boss! However, the financial situation of Land Company is not optimistic. Either financing or selling the company's assets can turn the situation around.Wu Guangyao nodded, agreeing with this view;In fact, financing is not realistic. At this time, the shares held by the Wu family have exceeded the full acquisition line;If you do not initiate a comprehensive acquisition, you will need to reduce your holdings to below 35% within half a year;But diluting the shares will give others a chance to take advantage. The only way is to transfer the shares to the family office or some other women.For example, Cheung Kong Holdings holds only 34.5% of Hutchison Whampoa, the family office also holds 5% of the shares, and Li Cui's line also holds 5% of the shares.As for raising money from outsiders, Wu Guangyao would not even consider it.Wu Guangyao said to Wu Xianshuo: "Do you have any opinion?"Wu Xianshuo thought for a while and said: According to the current financial situation of Hongkong Land, at least 5 billion Hong Kong dollars are needed to worry about it. It is better to sell several buildings in Central to Kowloon Real Estate to ease the financial situation."Sure enough, he is a unicorn, not only smart, but also generous enough;Why is Wu Xianshuo generous?It turns out that the assets of Jiulong Real Estate are trust assets belonging to Lin Yueru's line, which will benefit Wu Xianshuo's brothers and everyone's descendants;In the future, the land company will definitely be Wu Xianshuo's company, so the high-quality properties of LANDMARK Central belong to him and his children and descendants.Wu Guangyao said: "Too many high-quality properties are sold, and the signboard of Land Land may be greatly discounted; so let's take out three buildings in the core area of Central and sell them to Kowloon Real Estate, and leave the rest with Land Company. Right! If the funds for restructuring are not enough, let's use the bank's portfolio loan!"Wu Guangyao has decided not to let Land Company become an old real estate company that exists only in name, so he decided to reserve three buildings in the core area of Central for Land;In addition to the three buildings in the core area of Central not even the three sold to Kowloon Real Estate, the land has 7 first-class commercial buildings in Central, No. 9 Avenue, Duke Building, Royal Building in Causeway Bay, and Harcourt Building in Wan Chai. There is also the Diligend Pavilion in the Mid-Levels. Two phases have been completed, one with 33 floors, one with 34 floors, and a piece of land that has not yet been developed. In the previous life, the last phase was a 66-story building with the top floor as high as the altitude. At 327 meters, it was the world's tallest residential building when it was completed, replacing Chicago's Lake Spire. Phase III maintained this record for 8 years until the Trump World Center was completed in 2001;There is also the Xingang Center, which is a property behind the Wharf. It is a complex of three buildings, with shopping malls and office buildings. This is also a commercial building group that was kept nearby after Jardine lost the Wharf. Unexpectedly, it was acquired by Wu Guangyao again now;In addition, there are more than 50 real estate projects under development. The relatively large ones include the Baibishan villa group project total investment of about 4 billion Hong Kong dollars, the sixth large-scale housing project in Tin Shuiwei half equity, etc.;Finally, there is a large amount of reserved land;The above are the real estate assets of Hongkong Land Company. They are very large. Once the Sino-British negotiations are over, the price of the whole land can reach 30 billion Hong Kong dollars immediately the market value is generally much lower than the actual value.The structure of the land company is still very complicated. According to Wu Guangyao's vision, the cultural hotel needs to be separated and listed separately, and the Wellcome Supermarket needs to be sold to Baiyou Group;The land company and the telecommunications company are currently mainly pager services.Although Wu Guangyao had some ideas, he didn't say them. The purpose was to test the abilities of Wu Xianshuo and Yuan Tianfan.After the Land Company was set up, Wu Guangyao said to Ma Shimin: I have four large real estate companies under my control, Cheung Kong Holdings, Wharf, Hutchison Whampoa, and Land Group. Now it seems that the remaining three have considerable rental properties. Only Hutchison Whampoa collects fewer rental properties."In fact, there are more than four large real estate companies under Wu Guangyao, because the Jiahong Real Estate under the Hongkong Electric can easily rank in the top 12 of Hong Kong real estate; after all, there is a large amount of land in the old Ap Lei Chau power plant, enough to develop one. Super large housing estate project; so it should be said to be the five largest real estate companies, but after all, Jiahong Real Estate is under the Hong Kong Electric Group. Wu Guangyao does not like to list him as one of his real estate departments, only regarded as an important subordinate of the Hong Kong Electric Group. It's just a company.Ma Shimin nodded and said, Indeed! Although Hutchison Whampoa is a comprehensive group company, the proportion of real estate is still relatively large, and some rental properties need to be developed! What does the boss mean to develop the Whampoa dock?Wu Guangyao said with a smile: "At this time, it is right to bargain with the Hong Kong government. The Hong Kong government wants to turn the real estate industry into a boom, and it will inevitably need to start large-scale projects to stimulate the market; and the Hong Kong government now owes me favors, and they should pay it back."Ma Shimin said: "How does the boss plan to plan this land?"Wu Guangyao had a belly case for a long time, and he just told a group of executives today and said: "The location of the Huangpu Dockyard is not as good as the Taikoo Shing; but it also has two advantages: not far from the Kowloon business district tourist area, and close to it. Cheung Kong Hung Hom Industrial Park the industrial building group built on the site of the Qingzhou Cement Crane Garden General Plant, with a total building area of 5 million square feet.On this piece of land, we can build 10,000 residential units that can accommodate 40,000 people; at the same time, we can also build a 2 million square foot commercial center hotel, office building, shopping mall complex on the coastal area.Specific plans, we will study them slowly later! "Previous life Li Jiacheng developed the famous Four Enclosed Village projects in the 1980s and 1990s, with a total profit of 20 billion Hong Kong dollars. These funds are the fundamental reason why the Lee Consortium has been able to become internationalized.The first and most famous of the four large-walled village projects is the Huangpu Garden project.The former site of Whampoa Garden was the dock of the Hutchison Whampoa Group. After entering the 1970s, Hutchison and Swire cooperated to merge the dock and move it to Tsing Yi Island, leaving a piece of 2 million square feet 200,000 square meters in area. space.At that time, Hutchison's Taipan Qi Dezun intended to develop this land and build a top-level community similar to Tai Koo Shing, but ran into a fatal problem. The land at the dock and wharf was of an industrial nature. A huge amount of "land compensation".After the land compensation fee is paid, there is basically no profit for redevelopment; thisis the strategy of the Hong Kong government. Otherwise, all enterprises purchase industrial land for land conversion, so which real estate company is still willing to participate in land auctions?The land subsidy trapped Qi Dezun and the subsequent Wei Li. When Li Jiacheng took over Hutchison Whampoa, the land price at that time was almost at its peak, and the land compensation fee required 2.8 billion Hong Kong dollars. Li Jiacheng naturally refused to accept it.In 1984, although the Sino-British negotiations improved, the real estate market has been sluggish. In order to stimulate the real estate industry in Hong Kong, the Hong Kong government agreed to Li Ka-shing's terms, adding HK$390 million in land compensation plus HK$200 million. The road fee has modified the land use nature of this plot of land.At the beginning of 1985, the Sino-British negotiations were over, the future of Xiangjiang was determined, and housing prices began to rise steadily. Li Jia established an encircled village project to build the Whampoa Garden.In the previous life, Whampoa Garden included a total of 7.6 million square feet 760,000 square meters of residences and 1.9 million square feet 190,000 square meters of shopping malls. The entire project began in 1985 and ended in 1989. During the sale process, Xiangjiang Real Estate has just recovered. , Housing prices have risen sharply, and the premium for the entire project is very high.I own the land in Whampoa Garden and only paid HK$590 million for land modification and road fees. The construction cost of the entire project was HK$4 billion. In the following four years, the total income was as high as HK$9.5 billion. It was only a residential project. , It made 5 billion easily;Moreover, the 1.7 million square foot commercial center has long brought considerable benefits to Hutchison Whampoa.This profit was one of the most profitable business cases in Xiangjiang at that time.Ma Shimin said happily: After this project, Hutchison Whampoa also has a golden sign on the real estate, which can be comparable to Swire Pacific.Wu Guangyao said with a smile: Swire Pacific has already made a lot of profits, and if nothing else, they may privatize Swire Properties recently.Ma Shimin's eyes lit up and immediately said: It just happens that Hutchison Whampoa's development of the Whampoa Dock is still short of funds. It is better to take the opportunity to acquire some Swire Pacific shares. By then, the privatization will definitely be profitable.Wu Guangyao was taken aback, but he didn't think so much. First, he didn't look down on the tens of millions of Hong Kong dollars. Second, Swire Pacific had cooperated with him in the third phase of the Taikoo Shing project, and he didn't want to put them together.But since Ma Shimin has proposed it, you can also try to invest a little bit;"Well, but don't invest too much, just make a little profit! Swire Properties owns a high stake in Swire Properties, and it is quite easy to harm the interests of minority shareholders to achieve the purpose of privatization."Ma Shimin smiled and said, "I think so too, but I don't think tens of millions are too few!"Wu Guangyao said again: "There is another project, you go to run, old horse!"The project that can be said by the boss, it must be a big project, Ma Shimin is naturally happy, after all, he is rewarded with 1% of the profit every year."Boss, please speak!"Wu Guangyao said: There is an oil depot in Cha Kwo Ling, owned by an oil company, and a large-scale housing estate project can be developed on that piece of land!People in the conference room started to think that the oil depot is owned by others. If you buy it, the oil company's wealth and wealth may not necessarily agree;After all, finding another oil depot is not only troublesome, but also requires the Hong Kong government to apply. The procedure is quite complicated.Only Ma Shimin reacted quickly: "Exchange with Hutchison Whampoa's Tsing Yi Oil Depot?"Hutchison Whampoa has an oil depot, and it was the first company to set up an oil depot on Tsing Yi Island;Not only that, Hutchison Whampoa also has a dock shipyard, repair shop on Tsing Yi Island, which is in cooperation with Swire Pacific 55 points.Wu Guangyao nodded and said, Hutchison Whampoa's oil depot is not a core business itself and can be withdrawn.Ma Shimin said: "Well! Let me talk about this, and I promise that there is no problem."In this way, Hutchison Whampoa has two large-scale housing projects. Of course, Wu Guangyao will control the construction period to obtain greater profits.End of this chapter
